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Bitcoin Technical Analysis: BTC/USD bulls face no strong resistance level on path back to $7,000 – Confluence Detector

  • BTC/USD rose from $6,425.80 to $6,666.15 this Wednesday.
  • Strong support lies at $6,510.
Bitcoin Technical Analysis: BTC/USD bulls face no strong resistance level on path back to $7,000 – Confluence Detector
Rajarshi MitraRajarshi MitraIndependent Analyst

BTC/USD daily confluence detector

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BTC/USD bears took back control in the early hours of Thursday as the price went down from $6,666.15 to $6,638.80. However, there are no visible resistance levels on the upside, so the price can go up even more. On the downside, strong support lies at $6,510, which has the one-day Fibonacci 38.2% retracement level.


 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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